Phelps, Inc. had assets of $114,994, liabilities of $24,118, and 16,486 shares of outstanding common stock at December 31, 2017. Net income for 2017 was $12,200. The company had assets of $134,983, liabilities of $28,939, 12,535 shares of outstanding common stock, and its stock was trading at a price of $10 per share at December 31, 2018. Net income for 2018 was $11,687. Required: a. Calculate EPS for 2018. b. Calculate ROE for 2018. c. Calculate the Price/Earnings Ratio for 2018.

Phelps, Inc. had assets of $114,994, liabilities of $24,118, and 16,486 shares of outstanding common stock at December 31, 2017. Net income for 2017 was $12,200. The company had assets of $134,983, liabilities of $28,939, 12,535 shares of outstanding common stock, and its stock was trading at a price of $10 per share at December 31, 2018. Net income for 2018 was $11,687. Required: a. Calculate EPS for 2018. b. Calculate ROE for 2018. c. Calculate the Price/Earnings Ratio for 2018.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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